A substantial 13.62ha parcel of predominately vacant land in Truganina, Victoria, has been listed for sale by leading agency, Savills.
The site, located at 64-118 Greigs Road, Truganina, is designated for industrial and mixed-use development and boasts a 462.32m frontage to Greigs Road, with convenient transport links, direct access to the Western Freeway, Melbourne’s arterial road network and the CBD and surrounding suburbs.
Speaking on the opportunity, Benson Zhou, Director – CBD & Metropolitan Sales at Savills, said “This significant parcel of land offers any owner the potential to get in front of demand for space in this location, which is only set to increase as Truganina continues to play a vital role in driving the economic growth of the local area and Melbourne itself.”
Laagan Whalan, Director – Industrial and Logistics said “Truganina is the largest and most active industrial precinct in the country and is currently experiencing record low vacancy and unprecedented rental growth in excess of 50% in the last 2 years.
“These factors, combined with a severe shortage of industrial land for development across Melbourne make this offering a highly attractive site. Surrounding the property is major industrial estates developed by Goodman and Logos, who have secured major occupiers such as James Hardie & Metcash and the site also benefits from anticipated future infrastructure development such as the Outer Metropolitan Ring Road & West Gate Tunnel Project as well as neighbouring major shopping centres and retail amenities.”
Truganina occupies around 10,000 ha in Melbourne’s core western industrial precinct and falls within the Victoria Planning Authority’s Mt Atkinson Precinct Structure Plan, put in place to provide strategic housing to the Greater Melbourne area, given the area’s forecasted population growth. The area is host to a diverse range of industries including logistics, manufacturing and construction and is strategically located near to major highways, ports and the airport.
Julian Heatherich, State Director – CBD & Metropolitan Sales at Savills, said “Truganina, with its proximity to the Mt Atkinson activity centre, is well located just a short drive from Woodlea Town Centre, with its comprehensive selection of national retailers and specialty stores.
“Add to this the future Mt Atkinson Westfield Shopping Centre and proposed Rockbank North Town Centre, Truganina residents and tenants alike will be spoiled for choice as the area continues to benefit from future development due to accelerated growth.”
The property at 64-118 Greigs Road, Truganina is for sale by Expressions of Interest, closing 2pm on Wednesday 24 May.